John Laing Environmental Assets Grp Result of Placing (2796W)
08 February 2017 - 6:00PM
UK Regulatory
TIDMJLEN
RNS Number : 2796W
John Laing Environmental Assets Grp
08 February 2017
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA.
8 February 2017
John Laing Environmental Assets Group Limited
Result of Placing
Further to the announcement on 19 January 2017, the Board of
John Laing Environmental Assets Group Limited ("JLEN" or the
"Company") announces that it has raised GBP55.55 million through
the issue of 55,000,000 New Ordinary Shares at a price of 101 pence
per New Ordinary Share ("Issue Price"). The Placing was
significantly oversubscribed and, in light of this demand, the
Board has increased the size of the Placing to accommodate a
proportion of the additional demand.
Any Placing applications at a price below the Issue Price have
not been accepted and Placing applications at the Issue Price have
been scaled back in accordance with the terms of the Placing.
JLEN intends to use the proceeds to fund a number of
acquisitions arising from near term opportunities in the solar,
wind and biomass sectors, and also to clear its revolving credit
facility.
Application will be made to the Financial Conduct Authority for
admission of the New Ordinary Shares to the premium segment of the
Official List and to the London Stock Exchange plc for admission to
trading of the New Ordinary Shares on its main market for listed
securities ("Admission"). It is expected that Admission will become
effective on or around 13 February 2017 and that dealings in the
New Ordinary Shares will commence at that time.
The New Ordinary Shares will, when issued, be credited as fully
paid and rank pari passu with the existing Ordinary Shares in the
capital of the Company, including the right to receive all future
dividends and distributions declared, made or paid, save for the
dividend for the quarter to 31 December 2016 which is expected to
be paid on 23 February 2017.
Immediately following Admission, the Company's issued share
capital will consist of 339,642,078 Ordinary Shares with voting
rights. This figure may be used by shareholders in determining the
denominator for the calculation by which they will establish if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meanings given to them in the
prospectus published by the Company on 16 December 2016 which can
be found on JLEN's website at www.jlen.com.
For further information please contact:
John Laing Capital Management
Limited
David Hardy
Chris Tanner +44(0)20 7901 3559
Winterflood Securities
Limited
Neil Langford
Chris Mills +44(0)20 3100 0000
Important Information
This announcement contains information that is inside
information for the purposes of the Market Abuse Regulation (EU)
No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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